Overview

Web3 games have come a long way since their inception. Initially, developers focused on releasing their games on the desktop, leveraging the power and accessibility of personal computers to bring their unique blend of gameplay and blockchain technology to players. However, noticing the popularity of mobile gaming, developers began to shift their attention to releasing their games for smartphones.

Now, it seems that the next step in the evolution of web3 games is to bring them to console platforms such as PlayStation and Xbox. In 2023, players can expect to see a range of web3 games on consoles, onboarding another large segment of the gamer population to the web3 standard.

What are Web3 games?

Fundamentally, Web3 games utilize blockchain technology to give players true ownership over their in-game assets. They are an evolution in gaming that turns the proxy economy of a digital universe into a real one. These games differ from traditional online games in a few key ways, including the use of cryptocurrency and blockchain technology to facilitate in-game transactions. In Web2 gaming, players often purchase virtual items using fiat money, and these digital items are only rented to the players by the game developers and can be taken away at any time. With Web3 games, players have true ownership of their in-game items and can even trade or sell them in the open marketplace. This creates a new level of immersion and agency for players, as they can truly customize and build their gaming experience. It also opens up new opportunities for players to potentially make money by trading valuable in-game items.

Web3 Games on Consoles

While desktop and mobile are certainly popular platforms, there are many players who prefer to game on consoles. By releasing web3 games on consoles, developers can tap into this large and dedicated player base and introduce them to the unique and exciting world of web3 gaming. Also, the arrival of web3 games on consoles will bring a new level of innovation and experimentation to the world of web3 gaming.

We are observing some signs that the gaming industry is gradually going to integrate Web3 technologies. Let us list a few:

Industry behemoths are now onboard

The biggest firms in gaming are no longer opposed to web3 technologies like blockchain and NFTs. You don't have to wait for a big announcement by them to come to that conclusion. It becomes obvious when you look at their actions. Two of the most influential companies in gaming, namely Microsoft and Sony, are making moves towards adopting web3 technologies. Microsoft, however, is currently only sticking to investing in promising web3 gaming projects like WeMade. Sony actually filed patents to use NFT and blockchain technology in its future projects. We know that Sony plans to track the movement of in-game assets and gather intelligence on player behavior using this technology. But where exactly do you think Sony will use it? Obviously, for its most popular gaming device, the Playstation. With Sony and Microsoft dominating the console market, we're confident that Microsoft will have to adopt the Web3 standard if Sony's Web3 platform is a success.

Web3 game developers are now increasing their reach.

If you follow the web3 gaming space closely, you may have noticed that some game developers, such as Gala, are now releasing their games on platforms such as Steam.Currently, game developers create a non-NFT version of the game that is compatible with gaming consoles such as Xbox and Playstation.We think that many games will soon follow this course and release non-NFT versions of their games on consoles to increase adoption. This will go on until the console maker adds hardware and software components to their device that allow players to access the Web3 features of a game.

Industry-native solutions are also in the queue

Sony and Microsoft entering the web-based gaming space is great. However, some web-native companies are attempting to create gaming consoles specifically designed for blockchain-based games. The company leading this front is Zilliqa, which will release its gaming console in early 2023. According to the company, the console will come equipped with a non-custodial crypto wallet through which players can access web3 games and other dApps.

Benefits to the wider industry

Web3 games coming to popular console platforms is a significant development for the crypto industry too. As we mentioned above, gaming is arguably the largest consumer market, and console gaming is a significant segment of that market. Releasing games on these platforms has the potential to bring the benefits of blockchain technology and cryptocurrency to a much wider audience and increase the adoption of these technologies. This is especially exciting for those who are interested in blockchain technology and cryptocurrency but may not have had the opportunity to experience it in the past due to a lack of access or familiarity with these technologies.

Obstacles on the way

However, everything is not rosy. There are some issues that we'd need to solve first. Let’s look at them:

Technical limitations

One potential issue is the technical limitations of console platforms. Web3 games rely on decentralized blockchain technology, which requires a certain level of processing power and data storage. It remains to be seen how well web3 games will run on console hardware and whether any compromises will need to be made in order to ensure smooth gameplay. It will be important for developers to optimize their games for console hardware and ensure that they can provide a seamless gaming experience for players.

Lack of familiarity with cryptocurrency and blockchain technology

Another challenge is the potential lack of familiarity with cryptocurrency and blockchain technology among console players. While web-based games do not necessarily require players to have a deep understanding of these concepts, a basic understanding can certainly enhance the gaming experience. It will be important for developers and companies to educate console players on the basics of cryptocurrency and blockchain technology and how they are used in web-based games. although we think that this will soon be a non-issue. as more and more young gamers are quite aware of and interested in Web3 technologies. Still, it will require a concerted effort from the developers to ensure that players are properly informed and able to fully engage with the unique features of Web3 games. This can include in-game tutorials or other educational resources that help players understand the basics of cryptocurrency and blockchain technology.

In Closing

While there may be some challenges to overcome, such as technical and social limitations in our way. The opportunity to bring Web3 games to a wider audience is an exciting one. With the power and flexibility of blockchain technology at their disposal, developers will be able to create games that push the boundaries of what's possible and offer players a truly unique and memorable gaming experience. Overall, the release of web3 games on console platforms like PlayStation and Xbox in 2023 is a highly exciting development that has the potential to revolutionize the industry.